Maryland lawmakers say health reinsurance plan OK’d
ANNAPOLIS, Md. (AP) — Maryland lawmakers say a federal waiver has been approved to hold down consumer costs to Maryland’s individual market for insurance in the state’s health care exchange.
Sen. Thomas Middleton and Del. Joseline Pena-Melnyk said Tuesday the federal government has approved Maryland’s plan to create a reinsurance plan. The lawmakers, both Democrats, sponsored legislation for the plan.
Republican Gov. Larry Hogan has supported it, calling it an example of bipartisanship in Annapolis. A news conference has been scheduled for Wednesday in Annapolis. Amelia Chasse, a Hogan spokeswoman, declined to comment on the details.
The plan involves tapping about $380 million that health insurance companies no longer have to pay in federal taxes due to changes in the federal tax code to keep Maryland rates down over the next year.